Is parking spot worth it?

[dizzy]

So. 

I work in the middle of a big city.  There is no public transit from my town in the suburbs.  I didn't want to move, but like, love, and partner who owns a house and hates the city?

1st year and a half I got lucky and someone let me use their spot for free, yay!  Then the last 5 months I've been renting a spot.
Going rate is $350/mo and I got this for $200/mo.  It goes straight to a guy whose family has lived there 100 years rather than some big corporation.  I also have the flexibility to do whatever TF I want in the space- which includes gardening.  There is a rough raised bed (about 1.5' x 6') as well as a fence on the other side with about 6" width of dirt under it.  Fairly shaded on that side, other side is shaded but less so, gets AM sun.  The spot is .75 mi from my work, takes 12 min usually if I'm walking quickly.

My lease is up for renewal and I don't know what to do.  Hoping for an old-school MMM perspective on this

Option 1: Keep parking spot.  Money cost: $200 (spot) + tolls (5 days/week x $5 = $100)
Time cost: 15- 20 min drive (almost never have traffic at my work times) + 10-15 minute walk = 27 to 35 minutes

Cons: Definitely the most expensive
Pros:
-Not having to worry about parking is real, tho it's less important now that I'm not coming from this other job 45-60 minutes away with only 2 hours to drive, park, eat lunch, and setup for 2nd job.

-I *could* also grow some food here?  Particularly I'm thinking about some berries up the fence since my husband won't let me do them at home.  Not sure what in the longer raised bed.

-Can stash a bike here easily (when music gigs - my side hustle - start up again it will be easier just to bike to work and then music gig and then back to car, parking where music gigs are is impossible/have to pay meter or worse)

Option 2: Get rid of spot, drive.  There's a couple streets I've scouted out that are free with no time limit, it's pretty notorious tho for having to drive around...but sometimes it's not?  I feel it is going to be doable most times but every once in a while it will be bad.
Walking most likely a mile.

$100 (tolls) cost
Time: 15-20 min drive + 15 to find spot + 10-15 min walk + extra 10? for walking further than present = 50-60 min total

Pro: this is the cheapest option

Cons:
-stress of finding a spot every day
-will have to leave early to get spot/walk further just in case, time is more

Option 3: Public transit from a different town

Money cost: $5.20 x 5 x 4 = $104
Time cost: Drive to station and find parking: 15 - 35 minutes
10 minutes cushion time before train (isn't always when it's supposed to be) 10 minutes
20 minutes train time (IF no delays)
5 minutes walk
TOTAL time 50- 70 minutes as long as there are no delays

Pros:
-cost is 2nd cheapest, and not by much
-don't have to deal with car in city
-better for environment

Cons:
-people suck about wearing masks on that train/in that area, more exposure to covid (I am sole breadwinner rn and work in medicine.  If I get exposed I can't work for a week per work policy, and the clinic basically shuts down since I'm main person, let alone exposing my husband.  Also would have to cancel gigs if I had)
-if I needed to get anywhere else in the city like a rehearsal or gig I'd still have to drive
-longest time
-There are often delays, at least in the Before Times.  It wasn't even running during early covid and then when it was it was only 1x/hr so I sort of discarded it as an option back then (and then got the free spot)

I guess option 2 is best but I'm feeling a lot of stress when I think about looking for a spot if things get back to "normal" again.  I have to decide for another 6 months lease or not in the next couple days.

If people have any input on how to make the most of this guerilla gardening spot also I'd appreciate that.

[Blue Skies]

I'd sign the 6 month lease and use that time to try out your other options.  Next week, take the train one day.  The following week drive and park in the street you scouted out.  If the street is full, you can always drive to your actual spot.  That way you can try each option several times on different days and see how much hassle it is.  Maybe it isn't as bad as you think?  Maybe it is worse.  I wouldn't give up your parking spot until you are sure you have an alternative that isn't going to be horrible.  $200/mo is a lot, but in exchange for no headaches getting to work it may be a bargain.

[BikeFanatic]

Especially in these stressful times and working in health care I would sign the lease. Take the burden off yourself. When I have a hard time making a decision I think of how I would advise someone else that I care about, and that takes away my tunnel vision of saving money and being stoic.
This advice is from someone who biked to work for 20 years winter also.
As above give yourself a break for now and later attempt plan B of hunting for a space. In my city
That option is used by the working poor and they frequently carpool and compete with each other for the limited spaces within 1/2 mile of the hospital area. 

[Dicey]

Do you earn enough at this job to put up with the hassle at all? Are you saving at a good rate otherwise? Can you choose the most expedient option and optimize the budget elsewhere?

[Britan]

Do you earn enough at this job to put up with the hassle at all? Are you saving at a good date otherwise? Can you choose the most expedient option and optimize the budget elsewhere?

I’d second all these questions. Normally, justifying an expense because your job is stressful is a fast pass to overspending. But if you work in healthcare right now, you’re probably in a special kind of stress that the rest of us can’t compare to. If your budget is otherwise in good shape, you’re not drowning in credit cards, if I was in your shoes I’d pay for parking until the lack of masking on the train isn’t as risky.

[Omy]

Your profession is in very high demand right now. Could you get another job much closer to home that doesn't have parking challenges...or get the clinic to pay for your parking fees?

[herbgeek]

You aren't counting the value of your own time in the financial equations.  Also stress, but that's hard to quantify in $.  The choice with the largest outlay of money also takes the least time out of your day, and also is the most stress free.

Personally I'd renew the lease.   I like the certainty and nothing would ruin my day better than wasting time looking for parking spots.

Not sure about the guerrilla gardening- depends on if this spot is adjacent to the road or further removed.  If near the street, I'd be concerned with exhaust chemicals getting on the food I'm going to eat.  A flower garden, yeah fine, but not for a food garden.

[kina]

As someone who has driven in a big city looking for a parking space and knows the stress I've felt (even without the added stress of needing to get to work on time) I encourage you to sign that lease.

[SunnyDays]

As someone who has driven in a big city looking for a parking space and knows the stress I've felt (even without the added stress of needing to get to work on time) I encourage you to sign that lease.

Agree.  Finding parking is my own personal hell.

[abovethewaves]

Do you have a week or two before you have to resign your lease? You could use that time to "test" parking in the city (Option #2) before giving up your spot. It could be much easier than you are anticipating, but it could also be very difficult. At least you would have tried it out and could make a more informed decision before renewing your lease.

[dizzy]

Do you earn enough at this job to put up with the hassle at all? Are you saving at a good rate otherwise? Can you choose the most expedient option and optimize the budget elsewhere?

I *do* but part of the issue is coming from a poverty mindset.  Until 3 years ago I made under $20k a year ages 16-38, I'm 40 now.  Last year I made $50k which is peanuts to a lot of people here but inconceivable to me.  I keep it that way by stuffing money into savings asap.  It's hard to say what this year will be, things have been super slow again in my field, people staying home.  This month I've only made about 50% of normal (my job is 1099).  Hoping for better work in my side job music this year- we have a bunch of stuff on the schedule for Q2 but who even knows, things could slow/get cancelled again.

I am saving at a pretty darn good rate (about 70%).

$200 monthly is a great deal and I can afford it, but on the other hand, dang, it's 16% of my budget that could just be eliminated, ya know?  $200 is like half to 1/3 of what I've historically paid in rent...it's groceries for a month...etc

**ALSO**

My husband is still unemployed (he quit 2 weeks before shutdowns, whoops) and while we think he's getting closer, things are tight for him.  We are doing separate finances for the most part.  He's refused money from me other than a tiny amount for rent/utils.  He is on the last of his personal savings (apart from retirement stuff, which I DO NOT want him to touch).  While things are looking good with his most recent job/interview process, until he's got it it's hard to feel confident.  I want to be there for him, financially as well as emotionally.  So that makes me want to save.

I have been driving around and have an idea of where the good streets are (Philly is insane; every block seems to have its own rules about how long and which hours, if you have to pay or not, and half the signs are knocked over).  It's not been as bad as I thought it might be, but again I don't know what it will be like as the world reopens again?
I'm thinking I'll have to walk 1-1.25 miles, which is more than the .75 I am walking currently.  I guess I could buy a folding bike tho?  I didn't think about that.  Still have to deal with parking stress.

I've already done the drive/train combo and I don't feel great about it currently.  Still have to deal with traffic on a terrible road (I don't take this road to work), it takes longer, people suck at wearing masks. 

I talked with my husband last night and he was like, why don't you just ubereats or something to make the extra $200.   YEAH I could do that, but then I could also just do that and pocket all of it?  UGH

For person about optimizing budget, there's not a ton to cut.  I live on $1250/mo currently

There are very very few jobs in my field, most people have their own practices, which I have not only no, but negative interest in doing.  I tried two side jobs in my field last year (I literally applied in 2020 for every job that came up on indeed in my field/close by in order to get more income; they both turned out poorly in the long term and then i got an unexpected promotion/extra days at my job now)

I don't know what my problem is exactly but I guess it's the poverty mindset thing, I was trying to explain this to my husband.  He is very calm and patient with me when I get into libra indecision mode lol.

Gardening- it's in an alleyway, it's not as bad as a normal busy main street.  Some lady who's a neighbor has already been doing it up and down the street we talked about it lol.  She even offered to help maintain it.

[dizzy]

Actually that's kind of cool about a flower garden. I didn't even think of that.  I've messed with floral design a little in the past couple years for fun and did everything for our wedding.  Hmmmm...

[Car Jack]

$50k 1099.  Ouch.  Minus $300 a month ($3600 a year) minus payroll taxes, both sides, minus fed/state taxes.

Is there by any chance an Amazon warehouse near you?  Or retail store?  They start at $15 an hour (W2) and in higher cost areas and during high demand times, they raise.  My son was at a retail store and during Xmas, they paid just under $20 an hour.  Especially if they're closer with free parking, I think you'd be way ahead.  If you've never looked, do some searching.  We never noticed and found that there are like 6 warehouses within about a 15 mile radius of our house.

[Dicey]

Am I missing something? Your husband is not working, but he's suggesting you do ubereats?

[gooki]

How far from home is your work?

[deborah]

You're not counting all the costs - how much does your car cost to run?

Are there routes without tolls - and how much extra time would they take? The tolls are costing you much more than the parking.

Could you get your DH to drive you to work for a month for $200? He could check out the parking spots after he's dropped you off (actually walk the distance from the parking spot to the office to see how long it would take), and take a non toll route home (to see whether it's feasible).

[Catbert]

Am I missing something? Your husband is not working, but he's suggesting you do ubereats?

Exactly what I thought!

[mm1970]

Am I missing something? Your husband is not working, but he's suggesting you do ubereats?

Exactly what I thought!

Same.

But it also sounds like they keep separate finances.

[dizzy]

Flip mode!  Husband got a job offer in the city, so now we will share the spot.

I still might plant some flowers and maybe mushrooms tho

[dizzy]

$50k 1099.  Ouch.  Minus $300 a month ($3600 a year) minus payroll taxes, both sides, minus fed/state taxes.

Is there by any chance an Amazon warehouse near you?  Or retail store?  They start at $15 an hour (W2) and in higher cost areas and during high demand times, they raise.  My son was at a retail store and during Xmas, they paid just under $20 an hour.  Especially if they're closer with free parking, I think you'd be way ahead.  If you've never looked, do some searching.  We never noticed and found that there are like 6 warehouses within about a 15 mile radius of our house.

IDK, it's the name of the game.  In my old career everything was 1099 or cash in hand, in my new career almost everything is 1099 and cash in hand.  Also consider that my boss gives me a good deal of flexibility- if I want to take off for a music gig (hopefully will have more of these as the world re-reopens, so far looking good for the summer/fall) or even for a short backpacking trip, and occasionally a little bit longer one- pretty much I can nowadays.  I can't imagine being able to with a W2 job. 

I also can contribute a ton of money to solo401k.  I happened to learn about FIRE or really any retirement/savings stuff at all right when my income for new career started to go up.  I've saved ~70% of my income the last 2 years.  not saying that I love spending $300/mo on transportation, it's the highest of my expenses (and hopefully won't be a thing forever) sooooo?

Anyway Amazon blegh.  Won't get into all the deets people know about, but 1. currently no PT job openings according to their site in our area 2. I don't want to work more than what I'm already working, huh? ubereats etc is a lot more flexible 3. my husband applied for a job with Amazon.  He got there for interview, they said no interviews were scheduled at the gate, they told him to leave.  He followed up and no reply.  Seems like a typical thing of huge employers lotta disorganization, things get lost in the mix of so many moving parts

[dizzy]

How far from home is your work?

LOL, so my work is only 6.5 miles from home, but takes a good hour and a half if I did 100% public transit from walking out my door.
An ebike isn't really an option since there is an interstate toll bridge that technically one would have to walk the bike over.  Plus going through a pretty rough city enroute (former murder capital of the US)

[dizzy]

Your profession is in very high demand right now. Could you get another job much closer to home that doesn't have parking challenges...or get the clinic to pay for your parking fees?

It is, and it isn't.  There haven't been any real jobs in my profession (other than people advertising for someone to rent a room in their wellness space) on Indeed/etc for months.  I don't check all that often TBH.  Most people in my field have their own practices, something I've tried and had low interest (and minimal success) with.  I'm in a pretty good situation right now with my current job.